Santiago calls for more teeth in UN tax treaty

Former Malaysian MP Charles Santiago has called for stronger provisions in the draft international tax treaty being negotiated at UN headquarters in New York, warning that weak provisions could hinder Malaysia's ability to collect tax revenue from multinational companies. Santiago, speaking on behalf of an Asian peoples' movement on debt and globalization, argued that the current treaty provisions only require countries to take "progressive and meaningful steps" towards alignment, which he believes is insufficient.

He urged for the abolition or renegotiation of existing tax treaties in conflict with the proposed convention and emphasized the need for a clear deadline for countries to align their domestic laws with the treaty to prevent delay from becoming a substitute for reform. Santiago's comments highlight concerns over the potential impact of the treaty on developing economies like Malaysia, which rely on tax revenues for public infrastructure, healthcare, education, and climate adaptation.

Brief written by urgent.news from Free Malaysia Today's own syndicated text. Machine-written — it may contain errors, so check the original before relying on it.